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Hero Group’s Sunil Munjal eyes stake in Paytm at $5.7 bn valuation

Hero Corporate Services chairman Sunil Munjal and Adventz Group chairman Saroj Poddar are reportedly looking to buy a stake in digital wallet and e-commerce firm Paytm. Munjal and Poddar are together negotiating to buy Paytm shares from early investor and former IDFC Securities analyst Nikhil Vora, The Economic Times reported citing two people aware of the development. Vora holds a 0.35% stake, or 1.6 lakh shares, in Paytm. The duo will buy Rs 50 crore worth of stake at Rs 8,000 per share, the report said.

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